Rollercoaster of Delights - 18 October 2022

FOLLOW UP: BRITISHVOLT SEEKS EMERGENCY FUNDING[00:00:24] Britishvolt is searching for investors to plug a £200 million cash shortage it needs to survive until the summer of 2023. Nothing is ‘off the table’ as they look for anything from minority investors all the way up to new ownership. They currently have 300 staff, which is costing £3 million a month in wages, but are not expecting any income until at least 2025. To learn more about this story, click this Business Matters article link. NIKOLA FOUNDER GUILTY OF FRAUD[00:03:12] Trevor Milton, the founder of Nikola electric lorry firm, has been found guilty on three counts of fraud relating to the business and tech of the company. The prosecution claimed he lied about the progress of their development, the capability and the deals done. The start of all this was the advert which Nikola claimed showed the vehicle running along the road, which was exposed as it being dragged to the top of a hill and rolling down. On january 27 2023 Milton will find out what he is sentenced to, out of the possible 20 years. For more, click here for the Engadget link. ELECTRIC MINI PRODUCTION MOVED FROM OXFORD [00:04:58] Oxford is losing the production of the electric MINI, but gaining the convertible version from the factory in Holland when the next generation comes along. However, tied in with the first story, this is another blow to the UK car industry. BMW state the plant needs investment and refurbishment, but a lack of battery production facilities in the UK must also be a factor. Click this link from The Telegraph to find out more. NISSAN EXITS RUSSIA[00:07:03] Nissan has agreed to sell its total operation in Russia to the Government backed company NAMI, for €1. On the upside, that is more than Real Alliance partner Renault got for AutoVaz. Nissan has a six month buy back offer, if the situation significantly alters. Only Mitsubishi, of the three Alliance members, still has any footprint in Russia. You can read more, by clicking here for the Forbes article. TRANSPORT FOR WEST MIDLANDS AND WAZE PARTNERSHIP[00:08:28] Transport for West Midlands (TfWM) is partnering with Waze to help provide smoother travel across the region. With Waze providing real time traffic data, to help plug the gaps where WfWM is not monitoring, the expectation is that planners can better deal with planned and unplanned restrictions. Key to this will be how many actually use Waze in the area, who is passing what info to whom and has the small print been read? Click this Autocar link to read more. FUEL SHORTAGES IN FRANCE [00:12:57] France has introduced bans on citizens filling up any jerry cans at petrol stations as they endure fuel shortages thanks to strikes at six of the seven refinery plants. Making huge profits, giving the boss a massive pay rise and then telling staff there’s no money to pay rises hasn’t gone down well. The French Government has reclassified some staff as vital workers, who are key to the safety and ability of the country to function and therefore stating they cannot strike. The move, whilst understandable, has...